Meaning of にっちもさっちも in Japanese

Definition of にっちもさっちも

にっちもさっちも(nicchimosacchimo) 【二進も三進も】

(exp, adv) in no way
その会社は大変な負債のためにっちもさっちもいかない状態だ。
That company is on the rocks because of bad debts.

にっちもさっちもいかない(nicchimosacchimoikanai) 【二進も三進も行かない】

(exp) being driven into a corner; having no way out; being caught between a rock and a hard place

In daredevil car races, there are moments when the drivers place themselves between the devil and the deep blue sea, trying to take the lead.

That company is on the rocks because of bad debts.